Kia officially reveals the new entry-level Ray EV, starting at $20,500
On Wednesday, Kia unveiled “The New Kia Ray,” an entry-level EV designed to meet the growing demand for affordable all-electric options. Pre-orders for Kia’s new EV will open on Thursday, August 24, starting at 27.35 million won (about $20,500).
Kia reboots the Ray EV as a new image emerges
South Korea’s first production EV is back. Electrek caught wind that Kia was planning to revive the Ray EV after a Kia official told KED Global that “the new Ray EV is set to expand customers’ options with a mileage of more than 200 km, optimized driving performance for the metropolitan center and spacious interior.”
The Kia official added, “It’s the best choice for customers waiting for an entry electric minicar.” The reports turned out to be accurate as Kia officially announced “The New Kia Ray” on Wednesday.
Kia said pre-orders for the new Ray EV will begin on Thursday, August 24. Based on the gas-powered version design, the Ray EV features updated “EV-specific” elements, such as a front center garnish with a charging port.
The inside is modernized with a column-type electronic shift lever, including a 10.25-inch instrument cluster. Meanwhile, the central console includes new air conditioning, display, and storage space.
The Ray EV will come in six exterior colors, including the new smoke blue (shown above). Inside will feature two shades, light gray or black.
Powered by a 32.2 kWh LFP battery and improved aerodynamics, the new electric entry-level car can travel 205 km (127 mi). If you’re traveling in the city, that number bumps up to 233 km (144 mi). The Ray EV’s electric motor has 64.3 kW (86 hp) maximum output and 147 Nm max torque.
Although it may not seem like much compared to larger EVs in the US, these figures are up 15% and 55%, respectively, compared to the gas-powered Ray.
With a 150 kW fast charger, the Ray EV can charge from 10% to 80% in 40 minutes, while a 7 kW slow charger would take six hours to go from 10% to 100%.
For the first time in Korea’s compact car class, the vehicle includes an electronic brake and an electronic parking brake.
All seats can be folded flat, enabling a wide-open interior space to make it even more convenient for traveling or business. In addition, a dedicated “utility mode” allows the vehicle’s electric devices, such as the air conditioning and audio, to be used for an extended period while not driving. This can be useful for camping, resting, or working.
The new 1-seater Ray EV starts at 27.35 million won ($20,500), with several different passenger options. These include:
| Kia Ray EV trim | Cost | USD |
| 4-seater | Light: 27.75 million won Air: 29.55 million won |
$20,836 $22,187 |
| 2-seater | Light: 27.45 million won Air: 27.95 million won |
$20,611 $20,986 |
| 1-seater | Light: 27.35 million won Air: 27.80 million won |
$20,536 $20,873 |
A Kia official commented on the new model: “The Ray EV is an urban entry EV optimized for city driving based on a reasonable price range, and we expect it to serve as a catalyst to further accelerate the trend of electrification.”
Kia will open pre-orders for the new Ray EV on Thursday, August 24. However, the electric minicar will not make the trip overseas as it’s designed to boost sales in its home market.
Industry sources predict the new electric car will help revamp South Korea’s minicar segment, with expectations that it will place in the top 10 best-selling cars. Small electric vehicles are in high demand, and several automakers are already taking advantage of that fact.
Nissan’s Sakura electric minicar looks to be a “game changer” for the Japanese market, starting at 2,333,100 yen ($16,000). The automaker said at the end of July that the mini EV collected over 50,000 orders.
With the new Ray EV launching, Kia plans to provide electric options in each class, including the Niro EV, EV6, EV9, and upcoming EV5.
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Environment
U.S. could reach deal with Canada that avoids oil and gas tariffs, energy secretary says
HOUSTON — The U.S. could reach an agreement with Canada that avoids tariffs on imports of oil, gas and other energy resources, Energy Secretary Chris Wright said Monday.
Wright said such a scenario is “certainly is possible” but “it’s too early to say” in response to a question from CNBC during a press conference at the CERAWeek by S&P Global. The U.S. is in “active dialogue” with Canada and Mexico, the energy secretary said.
President Donald Trump has paused until April 2 tariffs on Mexican and Canadian imports that are compliant with the agreement which governs trade in North America. Trump originally imposed broad 25% tariffs on goods from both countries as well as lesser 10% tariffs on energy imports from Canada.
It’s unclear, however, how much of the oil, gas and other energy that the U.S. imports from Canada is compliant with the United States-Mexico-Canada Agreement. Wright declined to provide specifics when CNBC asked how much of those imports are USMCA compliant.
“I’m going to avoid the details for now,” Wright said. The energy secretary said, “We can get to no tariffs or very low tariffs but it’s got to be reciprocal” in an interview with CNBC’s Brian Sullivan.
Canada’s energy minister, Jonathan Wilkinson, warned last week that energy prices will rise in the U.S. if the tariffs on energy imports go into full effect.
“We will see higher gasoline prices as a function of energy, higher electricity prices from hydroelectricity from Canada, higher home heating prices associated with natural gas that comes from Canada and higher automobile prices,” Wilkinson told CNBC’s Megan Cassella in an interview.
The U.S. has been the largest producer of crude oil and natural gas in the world for years. But many refiners in the U.S. are dependent on heavy crude imported from Canada. The U.S. imported 6.6 million barrels of crude oil per day on average in December, more than 60% of which came from Canada, according to the Energy Information Administration.
Wright acknowledged that the tariffs are creating uncertainty in energy markets as negotiations continue.
“We’re in the middle of negotiations for where things are going to go with tariffs, so that feels frightening and gripping right now but this time will pass,” Wright said. “Deals will be made, we’ll get certainty and we’ll have a positive economic environment for Americans going forward.”
U.S. crude oil fell more than 1% Monday to close at $66.03 per barrel, while global benchmark Brent closed at $69.28 per barrel. Crude oil futures have pulled back substantially as Trump’s trade policy creates uncertainty and OPEC+ has confirmed that it plans to gradually bring back 2.2 million barrels per day of production beginning next month.
Apple is rolling out a notable update to Apple Maps EV Routing for Ford drivers. Starting today, Ford Mustang Mach-E and F-150 Lightning drivers can use Apple Maps EV Routing via CarPlay to plan road trips that include Tesla Superchargers – or any station that uses the North American Charging Standard (NACS) connector.
As I’ve explained before, Ford began shipping adapters CCS to NACS adapters that allow Mach-E and Lightning drivers to charge at Tesla Superchargers last year. Until today, however, Apple Maps was unaware of this change. This meant Apple Maps EV Routing would only route Mach-E and Lightning drivers to CCS charging stations, even though a route with Tesla Superchargers might’ve been more efficient.
With today’s change, Apple Maps via CarPlay will now include NACS fast charging stations, such as compatible Tesla Superchargers, in recommended route planning recommendations.
In a blog post, Ford explains:
Apple Maps EV Routing in CarPlay allows drivers to input their route and can view the estimated battery level they will have when they get to a destination, as well as suggested charging stations along the way if charging is needed. Previously, Mustang Mach-E and F-150 Lightning drivers would have to manually open another app, then enter a NACS fast charger as a destination to have it added to their route. Now, with the Apple Maps EV Routing and NACS fast charger integration, the experience will be more seamless.
How to Use Apple Maps EV Routing in CarPlay:
- Connect your Apple iPhone to CarPlay.
- Open Apple Maps, go to Settings, and confirm your preferred charging network(s) – make sure you select a NACS fast charging station, such as Tesla Supercharger. You only have to do this once.
- Enter a destination.
- Apple Maps will then calculate the estimated state of charge you will have when you get to a destination.
- If a charge is required, depending on the fastest route, it will automatically route you to a NACS fast charging station.*
This is a significant update to the Apple Maps EV Routing experience for Ford drivers. Next up on my wishlist is support for battery preconditioning when using Apple Maps EV Routing. Android Auto added this feature last October.
The new feature is available now to iPhone users running iOS 17 or later. No software update is required for your car.
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James Murdoch, a Tesla board member and friend of CEO Elon Musk, has confirmed that he sold about $13 million in stock today as the stock (TSLA) crashed.
There has been a lot of insider trading at Tesla lately, and by trading, we mean selling – cause no insider is ever buying at Tesla.
We recently reported on Kimball Musk, Elon’s brother, and Tesla’s Chief Financial Officer Taneja Vaibhav recently selling ahead of a recent drop in the company’s stock price.
Tesla’s chairwoman, Robyn Denholm, also sold $33 million worth of Tesla shares last week and over $100 million in the last 3 months.
Now, it’s James Murdoch’s turn. The Tesla board member just confirmed, through a required SEC filing, that he sold 54,776 Tesla shares for just over $13 million today:
He sold as Tesla’s stock crashed 15% today. It is now down more than 50% from its all-time high just a few months ago.
Murdoch was appointed to Tesla’s board in 2017.
He is better known as the son of media mogul Rupert Murdoch and the former CEO of 21st Century Fox from 2015 to 2019.
Murdoch was one of the Tesla board directors who was forced to return almost $1 billion in cash and stock options to Tesla as part of a settlement for over-compensation.
Electrek’s Take
Tesla insiders are unloading, and those are just the ones we know about. Public companies only have to report insider trading for board directors and listed top executives.
For the latter, Tesla purposefully only lists 3 people: Elon, Vaibhav Taneja, Tesla’s CFO, and Tom Zhu, whose role at Tesla has bit quite fluid in recent years.
Therefore, we don’t know about the dozens of other top executives potentially selling their shares right now amid a giant correction.
It’s really suspicious because there are clear top leaders at Tesla who are often on Tesla’s earnings calls, and they are not even listed, like Lars Moravy, for example.
But it’s par for the course at Tesla, which has some of the worst corporate governance I have ever seen. It’s truly shameful.
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